Femin Inc.
Femin Inc.: FEMIN RECEIVES FAVOURABLE ENGINERING REPORT FOR RAILWAY SPUR RIGHT OF WAY
Femin Inc. / Key word(s): Miscellaneous 17.10.2011 / 14:31 --------------------------------------------------------------------- Toronto ON - Femin Inc. (FRA-FJM) ('Femin') is pleased to announce that pursuant to an understanding with the Brazilian Ministry of Transport ('ANTT') and VALEC, the government body overseeing construction of the FIOL railroad, it has received, for its review and approval, the first draft of its previously commissioned engineering report by Shimura and Shimura Engenheiros Associados Ltda. of Sao Paulo, Brazil. The report lays out the most economical right of way, along with a budget, for the Febra Project‟s 180 kilometer rail spur to connect the project with the government‟s FIOL railroad near Caetité. After approval it is expected that ANTT will utilize its right of eminent domain to acquire the right of way. Femin‟s CEO Alexander Stewart said 'The selected route for the Febra rail spur is very efficient, enabling favourable transportation costs that will be reflected in dollar savings to the bottom line. The route contains no natural impediments allowing for fully loaded trains to travel downhill to connect with the FIOL railroad.' Attached as 'Schedule A‟ and 'Schedule B‟ is a map and elevation of the proposed route from the engineering study. - IN OTHER NEWS - FEMIN TO ACQUIRE MEXICAN IRON ORE FOR EXPORT TO CHINA Negotiations are underway with three different iron ore producers, to consolidate their production and arrange for a long term purchase contract with the product being shipping to the Asian market. Femin is currently finalizing an agreement with one of the producers. Femin‟s CEO Alexander Stewart was quoted as saying 'This is an opportunity to consolidate a number of producing mines and align them with credible long term buyers overseas and also to invest in enhancing and increasing the available iron ore resources. Our Mexican partners have secured port access through three ports on the Pacific coast of Mexico. Femin will use its iron ore expertise to assure quality control and then finalize long term purchasing contracts with Asian buyers - with China being the dominant destination.' More details to follow. About Femin Inc. Femin Inc. is a mineral exploration and development company located in Toronto, Canada. The Company was established in 2010 and its primary focus is the Febra Iron Project, which is a substantial iron deposit located in the State of Bahia, Brazil. Femin's management team has extensive experience in the exploration and development of mineral deposits all over the world. Femin Inc.'s shares are listed for trading on the Frankfurt Stock Exchange, Open Market. For further information, please contact: Femin Inc. Alexander Stewart, CEO Phone: (416) 644-1179 E-mail:astewart@femin.ca Or Stephen Stewart, VP Phone : (416) 644-1179 Email : sstewart@femin.ca Legal Disclaimer: This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Femin does not undertake any responsibility to update the forward-looking statements in this release. End of Corporate News --------------------------------------------------------------------- 17.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 142488 17.10.2011
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